Analysis

May 2013 was the seventeenth consecutive month of double-digit growth in the consumer new car finance market.

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FLA head of motor finance Paul Harrison said: "As we are only nine months away from the start of the new regulatory regime for consumer credit, it’s vital the industry plans ahead. Lenders, dealers and brokers should make sure that the OFT holds the correct details for their company, and that their credit licences include all the categories of businesses they will need after April 2014, when the transition to the new regime starts."

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